1. EU Unemployment Figures & Retail Sales
A great number of eurozone business and consumer surveys are scheduled for release this Monday morning. These include January’s Sentix index, the European Commission’s December business climate and economic sentiment surveys, as well as the final reading on December consumer confidence. Eurozone retail sales for November will also be released today, along with factory orders out of Germany, Europe’s largest economy. Beyond these, Germany will see the release of export, import and trade balance data on Tuesday. On Tuesday we will also see the release of Eurozone’s November unemployment rate which is projected to fall by 0.1% relative to October, pointing to an improving labour market; an even lower reading has the potential of pushing the EUR pairs higher. Concluding the week in terms of eurozone releases will be Wednesday’s UK manufacturing output and Thursday’s EU industrial production data for the month of November.*
2. US Inflation & Retail Sales
Investors will be focusing on important US data this Friday as December inflation figures and retail sales for the same month are due to be released at the end of the week. Stronger than expected readings may provide some much needed support to the USD pairs. It is important to note that Friday’s CPI figures could also spur speculation on the outlook for interest rates and thus result in dollar movements. Other data out of the US in the coming week will include November figures on consumer credit and JOLTS job openings as well as December PPI numbers. On the Canadian front, we expect December’s housing stats on Tuesday and November’s building permits on Wednesday.**
3. China Producer & Consumer Price Data Ahead
Producer and consumer prices are due out of China on Wednesday. Year-on-year, PPI is expected to tumble on the Chinese government’s efforts to reduce pollution as part of its goal to shift focus to the quality of growth. On Friday, China will also see the release of December trade data. In November, Chinese exports and imports blew past expectations, so investors will be looking closely at this week’s December trade data to see if the upbeat trend continues.***
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